Why Your MDF Program Is Broken (And How To Fix It)

Download Why Your MDF Program Is Broken (And How To Fix It)

Post on 05-Apr-2017

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<ul><li><p> WHYYOUR MDFPROGRAMIS BROKEN</p><p>(&amp; HOW TO FIX IT)</p></li><li><p>MDF PROGRAMS ARE</p><p>Market development funds should be the ultimate proof of partnership between technology vendors </p><p>and channel partners. </p><p>Unfortunately, these programs were designed in the 1980s and the world of communications is very </p><p>dierent these days.</p></li><li><p>SELLERS ARE NO LONGER IN CONTROL.POWER HAS SHIFTED TO THE BUYERS.</p><p>And these buyers are</p><p>65 TO 90% OF THE WAY THROUGH A PURCHASING DECISION</p><p>before they even speak to a salesperson. </p><p>FORRESTER RESEARCH</p></li><li><p>75% OF B2B BUYERSARE USING SOCIAL NETWORKSto search for solutions tobusiness challenges.</p><p> IDC</p></li><li><p>Potential customers want to know how you can help them </p><p>solve their challenges and achieve their goals.</p></li><li><p>Cold calling, generic email blasts and other </p><p>outdated tactics no longer work.</p></li><li><p>SO WHAT ARETHE PROBLEMS WITH YOURMDF PROGRAM?</p><p>Anybody whos ever been involved with MDF programs will tell you theres never enough money to go around.</p></li><li><p>Many vendors will ask channel partners to match allocation of MDF funding.</p><p>This is unfair because partners typically operate on much leaner profit margins and it can create tension in the business relationship. </p><p>ALLOCATION MATCHING</p></li><li><p>MDF programs are often hastily put together to drive sales of a particular product range.</p><p>Theyre not properly resourced or given enough time to generate results, and everyone moves onto something else once the quarter ends. </p><p>LACK OF STRATEGY</p></li><li><p>Most channel partners will admit theyre not very goodat marketing. Theyre so busy dealing with clients and prospects that its just nota priority.</p><p>LACK OF SKILLS</p></li><li><p>Vendors like to think of their products and services as complete solutions but theyre only one piece of the puzzle that partners have to deal with.</p><p>UNREALISTIC EXPECTATIONS</p></li><li><p>MEASURING SUCCESS</p><p>Theres an ongoing sense of disconnect between buying and selling cycles. Sales team are focused on quarterly targets but the buyers journey usually takes a lot longer.</p></li><li><p>FOCUS ON PRODUCT</p><p>Potential customers want to know how you can help them </p><p>solve their challenges and achieve their goals.</p><p>Too much technology marketing is focused on products and services rather than customer goals and challenges. </p></li><li><p>Cold calling, generic email blasts and other </p><p>outdated tactics no longer work.</p><p>The biggest challenge is embracingmodern, digital marketing based ongetting high quality content in frontof the right people.</p><p>SCOTT CAULFIELD, NEXTGEN CREATE </p></li><li><p>WHYGREAT CONTENT IS THE ANSWER</p></li><li><p>Most of the content on vendor websites is designed to convince potential buyers they should </p><p>buy their product or service.</p><p>This is only relevant when somebody is ready to make a purchase.</p></li><li><p>3 OUT OF 4 business buyers conduct more than half of their research online before making an oine purchase. FORRESTER RESEARCH</p><p>What content are you producingto answer their questions?</p></li><li><p>CONSIDER THESE STATS...</p><p>70% 61%3XLEADS</p><p>of people would rather learn about a company through </p><p>articles rather than ads.</p><p>Content generates three times as many leads as traditional </p><p>outbound marketing but on average it costs </p><p>62% less.</p><p>of B2B buyers say their chosen vendor delivered </p><p>a better mix of content for every stage of </p><p>their journey. </p><p>AXONN MEDIA DEMAND GEN</p><p>DEMAND METRIC</p></li><li><p>The world hasCHANGED</p><p>Time-shifting technology has allowed viewers to skip ads between programs.</p><p>Ad blockers allow customers toremove advertising from the online experience altogether.</p><p>Brands who push their own agenda on social media are increasingly ignored.</p></li><li><p>Content must educate, entertain and make youraudience feel something.</p></li><li><p>So what does good content look like?</p></li><li><p>Great content has to be focused on clear business objectives. </p><p>Always know what youre trying to achieve before you start.</p><p>ALIGNEDWITH GOALS1|</p></li><li><p>Great content knows who yourdecision makers and influencers areWhat are their goals and challenges?</p><p>How can your brand help them?</p><p>KNOW YOUR AUDIENCE2|</p></li><li><p>Great content is part education and part entertainment. </p><p>It must be useful and make your audience feel something.</p><p>3| SHARE KNOWLEDGE</p></li><li><p>Great content sparks conversation.Brands that do this well actively engage their audiences and encourage them to </p><p>help each other. </p><p>BUILD COMMUNITY4|</p></li><li><p>Great content is built on long-term strategy but lives in the moment.</p><p>Be aware of opportunities to add context to current events.</p><p>REACTQUICKLY5|</p></li><li><p>TIME FOR ACHANGEThe B2B buyers journey is longer and more fragmented than its ever been. </p><p>Its time to embracemodern marketingand start producing useful content that drives real business opportunity for your brand and channel partners.</p></li><li><p>WHO WE AREAt Spectrum Group we tell the stories that wont tell themselves . We help brands cut through the noise with a full range of integrated communications services, including content, PR, social media and design.</p></li><li><p>Get in touch with us to talk about how you can make better use of your MDF funds to drive real business opportunities for your brand and channel partner community. </p><p>HOW WE CAN HELP</p><p>Email us atcontent@spectrumgroup.is</p></li></ul>